Automation and the Economy

One of my main concerns with preparedness is an economic collapse or crisis caused by overspending. With the way things are going today, I think we need to take a look at how AI and automation could play a role in our economy as well.

By 2030 it’s estimated that 40 to 50% of jobs in the manufacturing, retail and wholesale, trade, and the transportation and storage industries will be automated.

Not all countries will be as affected to this level, but unfortunately the United States will. The countries likely to be affected are the more advanced countries like the U.S., China, Europe and Russia.

SPP296 Automation & the Economy

This week Lisa and I went over how prepping might change in the near future, and how the country we know and love will will fundamentally change.

We also went over some things we can do to help lower the impact this may have. As preppers, we have a little bit of an edge when it comes the economy taking a down turn, but nothing is guaranteed.

Is History Repeating Itself?

Does Automation and artificial intelligence mean 50% of people will be out of a job? Not necessarily. It means the jobs available will change. With the advent of the automobile, farriers and livery stables were needed less. It did however create jobs like auto mechanics, and liveries basically became auto shops.

We think about jobs that exist today that can be automated,

but who knows what jobs may exist in the future. If you asked what people

needed right before cars were invented, they would have said a better horse.

The difference I see is that the technologies of the industrial revolution created jobs, while automation and AI are removing jobs to increase a companies bottom line.

Who Will be Affected the Most…

Smaller companies may thrive somewhat because people will still want that personal interaction. We might go to a restaurant because we have a favorite waiter or waitress, and we might have a trusted auto mechanic.

I see this being somewhat like wanting to buy “Made in America” products. A little while back we tried to buy only American made products, but these day’s it’s almost impossible.

Employees of bigger businesses like Amazon, Walmart, Boeing, and Ford will be hit harder because these companies will have the ability to implement these processes.

Topics Covered The Week…

After we covered what the future might look like for preppers in the U.S. and around the world, we talked about how things might unfold. After that we covered some ways we can hedge our bets for our children and ourselves.

The Growing Pains: This won’t happen overnight, as a matter of fact it’s happening right now. A big question I have is how will everything unfold, and what should we expect when unemployment begins to rise?

High Unemployment: As they say “idle hands are the devils workshop”. Income inequality along with unemployment could lead to civil unrest, martial law, and most certainly a faltering economy.